Non-brokered deal negotiated to strengthen company's working capital
By Devika Patel
Knoxville, Tenn., Aug. 17 - Gemoscan Canada, Inc. said it will raise C$1 million in a non-brokered private placement of units.
The company will sell 2,857,143 units of one class A share and one half-share warrant at C$0.35 apiece. Each whole warrant will be exercisable at C$0.55 for two years.
Proceeds will be used to enhance the company's cash on hand and strengthen its working capital position.
The Toronto company owns and markets the Hemocode System, a lifestyle solution using chemiluminescence technology that detects and provides solutions for food intolerances.
| Issuer: | Gemoscan Canada, Inc.
|
| Issue: | Units of one class A share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 2,857,143
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 17
|
| Stock symbol: | CNSX: GES
|
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